Lyft Review
Lyft is one of the most popular ridesharing platforms in the US and makes for a great platform to earn an income as a driver. The platform’s app is available in over 600 cities in the US, and there is no shortage of demand for rides. Thus, you are certain to reliably and consistently earn a decent income as a driver and can even stand to earn up to $28 per hour during peark periods in some cities.
Pros
- Flexible working hours – you can work as much or as little as you want. Drive more during peak hours (7am-9am/6pm-9pm) to maximize your earnings.
- Instant payment with the Lyft debit card – the card also has no low-balance or maintainence fees and gives drivers up to 4% cash back on spending.
- 3 different ways to earn – you can earn money by completing trips, gettin customer tips (you keep 100%), and bonuses for hitting certain quotas.
- 3rd party liability insurance – Lyft will provide up to $1,000,000 3rd party auto liability coverage if your personal insurance does not apply.
Cons
- High minimum age requirements – you must be at least 21 to drive for Lyft in most cities, although the minimum age can be up to 25 in some cities.
- Vehicle expenses – Lyft will not reimburse you for expenses such as fuel, maintenance and repairs. These can add up to 40% of your earnings.
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Compare to Other Gig Economy Jobs
DoorDash
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You can use any mode of transportation: your car, bicycle or motorcycle
You have the freedom to pick and choose which orders you want to accept
GoPuff
Experienced delivery drivers can earn up to $21 per hour ($13 on average)
Choose when you want to work based on your schedule in 1000 cities
Delivery snacks, drinks, grocery, quick meals, cleaning supplies and more
Grubhub
Make around $12 per hour + tips and create your own flexible schedule
No resume, interview or delivery experience required, and no dress code
Cash your earnings out up to $500 a day (free for Chase Bank customers)
How Does Driving With Lyft Work?
Lyft allows you to;
- Track your earnings.
- Connect to riders in your region or country.
- Set your availability and working hours.
- Transport riders from and to their destinations.
- Earn directly from the rides you complete.
- To earn 100 percent tips provided by customers.
How Much You Can Make With Lyft?
As a Lyft driver, you can make anywhere from $20 to $28 per hour on the Lyft platform. This could translate to $120 – $168 daily if you work 6 hours a day.
Where is Lyft Available?
Lyft operates only in the US and Canada. It is available in all US states, while in Canada it operates in British Columbia and Ontario. Find the complete list of locations where Lyft is available here. You can only apply to drive with Lyft if you live in any location where the ridesharing services are available.
Who is Lyft Best for?
Lyft is best for drivers looking to earn extra cash while working on a flexible schedule. It is also best for riders looking for the best transportation and delivery services.
How Does Lyft Calculate Your Earnings?
Your earnings are calculated based on:
Tips
You earn from 100% of customer tips. If riders regularly tip you for excellent quality service, you can significantly improve your earnings.
Bonuses
Bonuses can influence your earnings significantly. Lyft offers driver bonuses that include Real-time, Scheduled bonuses, Ride Streaks, Personal Power Zones, Earnings Guaranteed, and Ride Challenges.
Distance of a Ride
Your distance earnings are also based on the per-mile rate of your city. You get paid for every mile of the trip.
Time to Complete a Ride
Every city has a per-minute rate. This rate determines how your earnings are calculated based on the time a trip takes.
Bonuses Opportunities Lyft Offers:
- Real-time bonuses are available when there’s a high demand for rides close to your current location.
- Scheduled bonuses are listed as available at the beginning of every week.
- Ride Streaks bonuses are bonuses earned when you continuously accept rides during periods of high demand.
- Earnings Guaranteed bonuses apply when you are guaranteed specific earnings on completing specific rides within a stipulated period. Lyft makes up the deficit if you don’t hit the target earnings.
- Ride Challenges bonus, you earn an extra amount when you complete rides based on predetermined conditions.
- Personal Power Zones bonuses are typically offered in real-time. You earn the bonus when there are many passengers in an area near you.
Since Lyft shares all the details about how your earnings are calculated, you can apply the information to maximize your earnings.
Lyft Benefits: What Does Lyft Offer?
Instant Cash Out
You can get paid immediately after completing every ride with Express Pay or Direct Pay.
Gift Cards
You can send gift cards to your family or friends for fast and reliable rides whenever they are headed.
Flexible Working Hours
Be your own boss by setting your availability and working hours.
Reliable Earnings
Lyft allows you to make money, keep tips from customers, and request to withdraw your earnings anytime.
Lyft Requirements
To drive with Lyft, you should fulfill the following requirements:
- Must meet the minimum age requirement in your location.
- Have a valid US or Canada driving license.
- Must pass all background checks.
- Have a clean driving history.
- Upload your car registration and insurance and complete a car inspection if necessary.
- Must have a four-door car with a minimum of five seatbelts (maximum eight seatbelts).
- All Lyft drivers must meet state and city-specific requirements
Apart from these basic requirements, other requirements could apply, depending on your location.
Lyft Costs to Consider
As a Lyft driver, you will incur regular costs and fees like:
- Gas purchases
- Vehicle maintenance fees
- Tolls
- Insurance charges
- State taxes
3 Tips to Increase Lyft Earnings
Here are three simple steps that can help you maximize your earnings:
- Offer high-quality service to earn tips since you get to keep 100% of the tips.
- Plan your working hours around scheduled bonuses.
- Understand the customer traffic pattern to earn more bonuses.
Lyft Payout Terms and Options?
Lyft has three ways by which you can get paid. They are Direct Pay, Express Pay, and Weekly Pay.
- Directly Pay; you get paid instantly after each ride. With Direct Pay, you earn cashback on gas, and groceries. You also don’t pay any transfer fee.
- Express Pay; you pay $0.50 to have your earnings sent to you within the shortest time possible.
- Weekly Pay; your earnings are transferred to your account every Tuesday morning and arrive within two business days.
Lyft Reviews: is Lyft Legit?
Lyft has a rating of 3.8 on Google Play, 4.9 rating on the App Store, and a 1.2 rating on Trustpilot.
According to most drivers, Lyft is one of the best gig job apps with competitive hourly pay and flexible working hours. Other drivers liked the app’s instant cash-out feature that enables you to receive your payments anytime.
However, some drivers complained of unreliable customer service. Others also reported that the app could not work well on some Android and iOS devices. With that said, Lyft offers on-demand jobs and gigs and is worth trying.
| Website | Rating |
|---|---|
| Google Play | 3.8 |
| App Store | 4.9 |
| Trustpilot | 1.2 |
What Are the Lyft Pros & Cons?
Lyft Pros
- Flexible schedule; set your availability and working hours
- Reliable earnings.
- Bonuses and tips are available to boost your earnings.
- Ease of use; easy to use app and website.
Lyft Cons
- Customer service issues.
- You have to pay for gas, car maintenance, etc.
How Good is Lyft Support and Knowledge Base?
Lyft has frequently asked questions sections and a help page with answered questions, articles, and tutorials. You can also contact them via email, or social media handles like Facebook and Twitter to get answers to your technical questions.
Lyft also has social forums where drivers and riders engage, ask questions, and receive answers from the Lyft support team.
Lyft Review Verdict: is Lyft Worth It?
Lyft is a legitimate and reliable ridesharing app that pays you $20 to $28 per hour. You also get to keep 100 percent of customer tips. Additionally, the app also has an instant cash-out feature that you can use to receive your earnings immediately after completing your ride.
Unfortunately, you will be responsible for paying your gas and car maintenance. Apart from the cons, it offers gig workers high-paying gig jobs suitable for drivers looking to supplement their primary income.
How to Start Earning With Lyft?
Signing up as a Lyft driver involves simple steps as stated below:
Step 1: Apply to drive
First, apply to drive by submitting the required personal and vehicle details. The Lyft team will review your application and provide feedback.
Lyft would conduct a vehicle inspection based on an established schedule if you applied to use your personal car. A background criminal and driving history check will also be conducted.
It takes just a few days for Lyft to get initial feedback from the Lyft team.
Step 2: Download the App
If your application is approved, you can then download the app and start accepting the rides.
Step 3: Earn Money and Cash Out
Once you accept the ride, complete it to earn money and cash out. Make sure to provide excellent customer service to earn tips from riders.
Lyft FAQs
What is Lyft?
Lyft was founded in 2012 by two computer programmers, Loya Green and John Zimmer. The company is based in San Francisco. It is a ridesharing service created to be a cheaper alternative to traditional taxi services.
Lyft’s mission is to improve people’s lives with the world’s best transportation services. It has over 2 million licensed drivers on its platform and an estimated net worth of $11.66 billion. The company has had success in creating job opportunities for drivers and, at the same time, offering the best transportation services to riders.
How much can I drive on Lyft?
Since you are an independent contractor, you determine your working hours. However, if you want to earn more on Lyft, you should schedule your working hours at peak times.
Must I meet all the requirements to work on Lyft?
You must meet all the requirements to fully comply with federal, state, and local ridesharing regulations.
Is Lyft legit?
Lyft is a ridesharing and transportation company with a good reputation in the regions it operates, making it legit and reliable.
Why is Lyft considered the best ridesharing app?
Lyft offers competitive hourly pay. You get to keep 100% customers tips, provide bonuses to boost your earnings, and it has a friendly work environment.
Is Lyft secure?
Lyft has strict privacy rules and does not share your data or financial information with government agencies or third parties. It also uses two-factor authentication to keep your Lyft account safe.